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2 answers

They usually offer you something like 50-60% of the appraised value. You often lose all of your equity. This is usually the worst thing you can do. If you are facing financial problems, and have reasonable equity in your house, see your family attorney for advice. Don't give your assets away.

Good luck with your problem.

2006-08-29 06:42:39 · answer #1 · answered by exbuilder 7 · 9 0

Only what I have read. It's a sale of last resort. They won't pay you anything close to what it's worth. They need to make a profit to make it worth their time. It would be the same as selling your car to a dealer.

2006-08-29 08:31:18 · answer #2 · answered by mountainriley 6 · 0 0

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